I'm not saying you're doing this, but people will often make the mistake of looking into the highest priced rental unit and making that the "market rate" but it's often not a true comparable to the subject.

For my screening criteria - income from all financially responsible applicants is combined and compared to rent.

I am such a novice and only just starting my small multifamily property investment... very "boring" compared to what you are doing!

Plus, compared to other parts of Florida, the Panhandle is still relatively affordable, making it a great option for first-time investors or those looking to diversify their portfolio.Another huge perk is Florida’s no state income tax and landlord-friendly laws, which make it easier to manage and profit from rental properties.

I will publish list of failed delayed projects for Grocapitus so people can compare against successful exits and decide accordingly.More projects that are dead in the water.Botanical SouthPark, Austin - Projected construction completion (Oct 2023), Projected IRR 20%, Preferred return 8%Botanica Chase Hill, San Antonio - Projected construction completion (June 2023), Projected IRR 22%, Preferred return 10%Park Lane, Houston - Projected construction completion (July 2022), Projected IRR 22%, Preferred return 8% Looks like all ugro projects.

Hard to give up such a low mortgage rate, but in the end that's small potatoes compared to potential OOS problems.  

He's the guy who shared my interested and connected us, he wouldn't recommend him as a seller if he had bad experiences with his other properties.I did ask about other properties and he shared about a duplex for $200k, but I wouldn't be able to afford the down payment needed.He acknowledged the rent is low compared to the market and never mentioned that it's his "best" property.1) Agree, but if he's been a good tenant is that necessarily a problem?

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

It's tough to give a definitive answer without knowing your specific investment goals (cash flow, appreciation, etc.) and preferred strategies (BRRRR, wholesaling, etc.).However, since I'm a Cleveland native and active in the real estate market here, I can offer some insights on why Cleveland could be a good fit:Affordability: Compared to many other major metros, Cleveland offers a relatively low barrier to entry.

There aren't too many other cabins like it in the area on Airbnb to compare it to.